STOCK-BASED COMPENSATION (Tables)

3 Months Ended

May 04, 2024

STOCK-BASED COMPENSATION

Schedule of options outstanding, vested or expected to vest, and exercisable

		WEIGHTED		WEIGHTED		AGGREGATE
		AVERAGE		AVERAGE		INTRINSIC
		EXERCISE		REMAINING TERM		VALUE
	SHARES	PRICE		(in years)		(in thousands)
Options outstanding	4,027,464	$	202.04		5.7	$	418
Options vested or expected to vest	3,622,750		194.67		5.3		408
Options exercisable	2,570,209		166.10		4.2		369

Schedule of stock-based compensation expense

	THREE MONTHS ENDED
	MAY 4,		APRIL 29,
	2024		2023
	(in thousands)
Stock-based compensation expense(1)	$	10,544	$	10,180

(1) On October 18, 2020, our Board of Directors granted Mr. Friedman an option to purchase 700,000 shares of our common stock with an exercise price equal to $385.30 per share under the Stock Incentive Plan. The option will result in aggregate non-cash stock compensation expense of $174 million, of which $1.9 million and $3.5 million was recognized during the three months ended May 4, 2024 and April 29, 2023, respectively.

Schedule of total unrecognized compensation expense and weighted average remaining term

	UNRECOGNIZED		WEIGHTED
	STOCK BASED		AVERAGE
	COMPENSATION		REMAINING TERM
	(in thousands)		(in years)
Unvested options(1)	$	147,683		5.2
Unvested restricted stock and restricted stock units		5,923		2.8
Total	$	153,606

(1) Excludes the remaining unrecognized compensation expense of $3.4 million related to the fully vested option grant made to Mr. Friedman in October 2020, which will be recognized on an accelerated basis through May 2025.